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The Fund of the Program for concessional lending to young entrepreneurs of Moldova (FCT II) was increased by 150 million lei.

The Fund of the Program for concessional lending to young entrepreneurs of Moldova (FCT II) was increased by 150 million lei.

According to the Ministry of Finance, the additional funds for 2022 will ensure co-financing of the 3rd component of the program "Start for Youth: A Sustainable Business at Home", which is implemented by the Organization for Entrepreneurship Development (ODA). The overall goal of the programs is to support entrepreneurship among young people and the socioeconomic integration of people between the ages of 18 and 35. The total value of the subsidized lending, including the non-repayable part, is up to 1.76 million lei. 85% of them (up to 1.5 million lei) are allocated within FCT II program and 15% (up to 264 thousand lei) - within ODA. The resources of the program are available from September 1. The received credits will be used for purchasing goods and services for business development initiated by young businessmen. For consultations and access to resources, people who meet the conditions of the program can apply to ODA, as well as to intermediary financial institutions and their branches throughout the country. To date, the Ministry of Finance has signed refinancing agreements with maib; ProCredit Bank; Moldindconbank; OTP Bank; Fincombank; EuroCreditBank; Victoriabank; Energbank; Microinvest; Corporația de Finanțare Rurală. The Ministry of Finance notes the advantageous annual interest rates for the use of funds of the credit component, their fixity, both for intermediate partners and final beneficiaries. For final beneficiaries the interest rate on loans will not exceed 9% per annum, which will create favorable conditions for support and initial capitalization of youth business, maintenance of activity and creation of new jobs. // 28.09.2022 - InfoMarket

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